Citigroup Inc. Purchases 7,280 Shares of Eagle Materials Inc $EXP

Key Points

• Citigroup Inc. increased its holdings in Eagle Materials by 31.8% in Q1 2023, owning approximately 0.09% of the company valued at $6.7 million.
• Eagle Materials reported a quarterly earnings per share of $3.76, exceeding estimates, and had a revenue of $634.69 million for the same period.
• The company declared a quarterly dividend of $0.25 per share, resulting in an annualized dividend yield of 0.4%.

Citigroup Inc. grew its position in Eagle Materials Inc (NYSE:EXP - Free Report) by 31.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,187 shares of the construction company's stock after purchasing an additional 7,280 shares during the period. Citigroup Inc. owned about 0.09% of Eagle Materials worth $6,699,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Deutsche Bank AG raised its holdings in shares of Eagle Materials by 0.9% in the first quarter. Deutsche Bank AG now owns 33,196 shares of the construction company's stock valued at $7,367,000 after purchasing an additional 289 shares during the last quarter. Westwood Holdings Group Inc. purchased a new stake in shares of Eagle Materials in the first quarter valued at about $12,682,000. PNC Financial Services Group Inc. raised its holdings in shares of Eagle Materials by 18.5% in the first quarter. PNC Financial Services Group Inc. now owns 4,105 shares of the construction company's stock valued at $911,000 after purchasing an additional 640 shares during the last quarter. US Bancorp DE raised its holdings in shares of Eagle Materials by 10.7% in the first quarter. US Bancorp DE now owns 4,755 shares of the construction company's stock valued at $1,055,000 after purchasing an additional 458 shares during the last quarter. Finally, 12th Street Asset Management Company LLC raised its holdings in shares of Eagle Materials by 1.5% in the first quarter. 12th Street Asset Management Company LLC now owns 42,693 shares of the construction company's stock valued at $9,475,000 after purchasing an additional 628 shares during the last quarter. Hedge funds and other institutional investors own 96.07% of the company's stock.

Eagle Materials Stock Performance

Shares of EXP traded up $11.7650 during trading hours on Friday, hitting $238.5950. The company's stock had a trading volume of 94,987 shares, compared to its average volume of 397,031. The company has a market cap of $7.74 billion, a price-to-earnings ratio of 17.55 and a beta of 1.24. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.73 and a quick ratio of 1.26. The business has a 50 day simple moving average of $216.83 and a two-hundred day simple moving average of $221.21. Eagle Materials Inc has a 52-week low of $191.91 and a 52-week high of $321.93.

Eagle Materials (NYSE:EXP - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The construction company reported $3.76 EPS for the quarter, beating analysts' consensus estimates of $3.73 by $0.03. Eagle Materials had a net margin of 19.81% and a return on equity of 31.21%. The company had revenue of $634.69 million during the quarter, compared to analyst estimates of $611.52 million. On average, equities analysts expect that Eagle Materials Inc will post 14.39 earnings per share for the current fiscal year.

Eagle Materials Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 16th. Stockholders of record on Monday, September 15th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Monday, September 15th. Eagle Materials's dividend payout ratio (DPR) is 7.36%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. The Goldman Sachs Group set a $242.00 price objective on shares of Eagle Materials and gave the stock a "buy" rating in a report on Wednesday, May 21st. Stephens set a $255.00 price objective on shares of Eagle Materials and gave the stock an "overweight" rating in a report on Thursday, May 22nd. Stifel Nicolaus set a $241.00 price objective on shares of Eagle Materials and gave the stock a "hold" rating in a report on Wednesday, May 21st. Truist Financial decreased their price objective on shares of Eagle Materials from $330.00 to $280.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Finally, Citigroup decreased their price objective on shares of Eagle Materials from $279.00 to $230.00 and set a "neutral" rating for the company in a report on Wednesday, May 28th. Three analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, Eagle Materials currently has a consensus rating of "Hold" and a consensus price target of $255.33.

Eagle Materials Profile

Eagle Materials Inc, through its subsidiaries, manufactures and sells heavy construction materials and light building materials in the United States. It operates in four segments: Cement, Concrete and Aggregates, Gypsum Wallboard, and Recycled Paperboard. The company engages in the mining of limestone for the manufacture, production, distribution, and sale of Portland cement, including Portland limestone cement; grinding and sale of slag; and mining of gypsum for the manufacture and sale of gypsum wallboards used to finish the interior walls and ceilings in residential, commercial, and industrial structures, as well as well as containerboard and lightweight packaging grades; manufacture and sale of recycled paperboard to the gypsum wallboard industry and other paperboard converters; the sale of readymix concrete; and mining and sale of aggregates, such as crushed stone, sand, and gravel.